Fisherman thought missing was on board the whole time

Queensland Police Service have confirmed the "missing” 45-year-old fisherman has been located safe and still on board the same commercial fishing vessel he was reported to have fallen from overnight.

QPS Media reported the man was found by members of the crew in a compartment on the boat at 4:25pm Wednesday afternoon.

"Water Police will travel to the vessel this afternoon to speak to the man and determine the circumstances surrounding this incident,” the QPS statement read.

"All search assets have now been stood down.”

More to come.

UPDATE 3pm

EMERGENCY service crews have continued the frantic search for a fisherman missing in waters off Double Island Point early this morning.

RACQ reported their Brisbane-based LifeFlight Rescue helicopter has now joined the search alongside aircraft from the Sunshine Coast and Bundaberg just before 3pm.

The Sunshine Coast-based chopper was dispatched at 3:40am, followed by the Bundaberg chopper just after 7:30am.

RACQ LifeFlight Rescue helicopter pilot Jeremy Ovens said the search area is located around 50 miles off the coast of Noosa.

"It's a very large body of water where it's believed the man fell off the vessel around 3 o'clock this morning,” Mr Ovens said.

"Multiple helicopters and a fixed-wing aircraft have been involved in the search.”

Queensland Water Police continue to lead the operation.

UPDATE 9am

POLICE have revealed their extensive air and sea search efforts for a 45-year-old fisherman still missing off Double Island Point this morning.

A Queensland Police statement said it had received reports of a man overboard from a commercial fishing vessel at around 3am this morning.

QPS reported the search was taking place approximately 30 nautical miles offshore from Double Island Point.

RACQ LifeFlight Rescue teams search or a missing fisherman who fell overboard off Double Island Point last night.RACQ LifeFlight Rescue

"Water police are coordinating the search which includes, eight helicopters, two fixed wing aircrafts, one jet, two QPS water police vessels, two fishing vessels and a Coast Guard vessel,” the statement continued.

RACQ LifeFlight have reported their Bundaberg Rescue helicopter has joined the ongoing search and rescue operation for a fisherman missing off Double Island Point.

Both the Bundaberg and Sunshine Coast RACQ LifeFlight Rescue helicopters are currently searching for the man.

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BREAKING 7am

EMERGENCY service crews continue to search for a missing fisherman who fell overboard in waters off Double Island Point early this morning.

An RACQ LifeFlight media statement said "a search and rescue operation is currently underway” for the missing fisherman and had been since LifeFlight Rescue was tasked on the mission at 3.40am.

The statement said the Sunshine Coast-based LifeFlight Rescue helicopter was completing search patterns of the coast of Double Island point seven nautical miles from shore to try and locate the fisherman.

Queensland Water Police are understood to be coordinating the search and rescue efforts.